Rumor from connection to Executive HR planning, A plan is being worked for two major layoff waves. One will be predominantly US in Q3 and be several hundred in all areas. The second will tentatively be within 30 days following and worldwide. It’s contingent upon If auctions or sale of business occur sooner. Clock speed on sale is not guaranteed, thus a headcount plan is going to be put in place. Good luck to all those who may be impacted.
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Hopefully a CIO direct report pulling in E2 coin be unda da wave 2 microscope considering the social media brand embarrassments. Amazing they remain standing in the midst of this IRIF while milking the company at conferences. A simple anonymous survey would unmask this individual. Opinion is widespread ima told.
To the poster who says thier sources are good. I’m inside. It’s happening tomorrow. Your sources are c-ap.
Any company that has a new Board (controlled by Icahn), a new CEO, poor Q2 numbers, is under pressure to sell which requires strong cash flows and changes its severance program overnight is looking a a significant workforce reduction very soon.
Oh, its coming...
I've heard nothing of layoffs anytime soon, and my sources are usually pretty good. I'd be surprised if there was anything before a sale/auction/merge though.
Wondering if it will affect the staff in Canada?
Sounds similar to an event that took place about 8 years ago (or so). Two waves typically means that the first wave is a VRIF (with severance), and if not enough people take it, the second wave is a IRIF (layoff).
If this rumor is true, the first offer (or carnage) will happen around November.
Sock away the cash folks. Delay vacations and major purchases and pay off debts and dust off your resume if you are not close to retirement age.
So if they sell a business there will be layoffs? Or will they have layoffs if unit does not sell soon enough?